Legend Biotech Corporation Sponsored ADR $LEGN Holdings Boosted by CenterBook Partners LP

CenterBook Partners LP grew its holdings in Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) by 37.7% in the third quarter, Holdings Channel.com reports. The firm owned 145,531 shares of the company’s stock after purchasing an additional 39,863 shares during the period. CenterBook Partners LP’s holdings in Legend Biotech were worth $4,746,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Personalized Indexing Management LLC acquired a new position in Legend Biotech during the second quarter valued at $219,000. Allianz Asset Management GmbH acquired a new position in shares of Legend Biotech in the 2nd quarter valued at about $458,000. OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in shares of Legend Biotech in the second quarter worth approximately $723,000. Hantz Financial Services Inc. boosted its holdings in shares of Legend Biotech by 913.0% during the second quarter. Hantz Financial Services Inc. now owns 2,097 shares of the company’s stock worth $74,000 after purchasing an additional 1,890 shares during the period. Finally, Resona Asset Management Co. Ltd. grew its position in Legend Biotech by 25.5% during the second quarter. Resona Asset Management Co. Ltd. now owns 21,901 shares of the company’s stock valued at $775,000 after purchasing an additional 4,451 shares in the last quarter. Institutional investors and hedge funds own 70.89% of the company’s stock.

Legend Biotech Trading Up 1.3%

Legend Biotech stock opened at $18.35 on Thursday. Legend Biotech Corporation Sponsored ADR has a one year low of $16.24 and a one year high of $45.30. The company’s fifty day moving average price is $20.46 and its two-hundred day moving average price is $28.33. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.86 and a quick ratio of 2.80. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of -28.23 and a beta of 0.10.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on LEGN shares. Raymond James Financial reiterated an “outperform” rating on shares of Legend Biotech in a research report on Tuesday, January 20th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Legend Biotech in a research note on Monday, December 29th. Rothschild & Co Redburn cut Legend Biotech from a “buy” rating to a “neutral” rating and set a $24.00 price objective for the company. in a research report on Thursday, February 12th. UBS Group dropped their target price on Legend Biotech from $54.00 to $48.00 and set a “buy” rating on the stock in a research report on Monday, December 8th. Finally, Morgan Stanley reduced their price target on Legend Biotech from $83.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Legend Biotech presently has an average rating of “Moderate Buy” and an average price target of $55.08.

Legend Biotech Company Profile

Legend Biotech (NASDAQ: LEGN) is a commercial-stage biopharmaceutical company specializing in the development and commercialization of chimeric antigen receptor T-cell (CAR-T) therapies for oncology. Headquartered in Somerset, New Jersey, with research and development operations in Shanghai, the company leverages a global infrastructure to advance innovative cellular therapies. Legend Biotech pursues a strategy of strategic collaboration to extend its reach, most notably through its partnership with Janssen Biotech, a subsidiary of Johnson & Johnson.

The company’s lead asset, ciltacabtagene autoleucel (commercially marketed as Carvykti), is a B-cell maturation antigen (BCMA)–directed CAR-T therapy for the treatment of relapsed or refractory multiple myeloma.